PR Newswire
ENGLEWOOD, Colo., March 29, 2022
Cash and Cash Equivalents of $34 Million Expected to Fund Current Operations into 2H 2023
Company to host Conference Call Tuesday, March 29, 2022, at 4:30pm EDT
ENGLEWOOD, Colo., March 29, 2022 /PRNewswire/ -- Ampio Pharmaceuticals, Inc. (NYSE American: AMPE), a biopharmaceutical company focused on the advancement of immunomodulatory therapies for the treatment of pain resulting from osteoarthritis in the knee and potentially other articular joints, today reported financial results and operational highlights for the fourth quarter and year ended December 31, 2021.
"We have made significant progress on core objectives, including the release of positive Phase 3 data and the submission of a Type C meeting request to the FDA," said Mike Martino, Chairman and CEO of Ampio. "Additionally, we have secured incremental liquidity that improves financial strength and is expected to fund current operations into the second half of 2023. This provides strategic options as we continue discussions with the FDA and potential partners. Further, we have strengthened our corporate governance, compliance, and clinical development expertise through the expansion of our Board of Directors and appointments of key leadership positions."
Ampio is pleased to provide recent operational highlights that are summarized below.
Further details on Fourth Quarter and Full-Year 2021 Financial and key variances are included below.
AMPIO PHARMACEUTICALS, INC. | ||||||
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Balance Sheets | ||||||
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| | December 31, | | December 31, | ||
| | 2021 | | 2020 | ||
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Assets | | | | | | |
Current assets | | | | | | |
Cash and cash equivalents | | $ | 33,892,000 | | $ | 17,346,000 |
Prepaid expenses and other | | | 1,740,000 | | | 1,147,000 |
Total current assets | | | 35,632,000 | | | 18,493,000 |
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Fixed assets, net | | | 2,564,000 | | | 3,561,000 |
Right-of-use asset, net | | | 629,000 | | | 824,000 |
Total assets | | $ | 38,825,000 | | $ | 22,878,000 |
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Liabilities and Stockholders' Equity | | | | | | |
Current liabilities | | | | | | |
Accounts payable and accrued expenses | | $ | 4,811,000 | | $ | 1,550,000 |
Lease liability-current portion | | | 311,000 | | | 284,000 |
Total current liabilities | | | 5,122,000 | | | 1,834,000 |
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Lease liability-long-term | | | 614,000 | | | 925,000 |
Warrant derivative liability | | | 5,805,000 | | | 2,607,000 |
Total liabilities | | | 11,541,000 | | | 5,366,000 |
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Commitments and contingencies (Note 7) | | | | | | |
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Stockholders' equity | | | | | | |
Preferred Stock, par value $0.0001; 10,000,000 shares authorized; none issued | | | — | | | — |
Common Stock, par value $0.0001; 300,000,000 shares authorized; shares issued | | | 23,000 | | | 19,000 |
Additional paid-in capital | | | 244,863,000 | | | 218,020,000 |
Accumulated deficit | | | (217,602,000) | | | (200,527,000) |
Total stockholders' equity | | | 27,284,000 | | | 17,512,000 |
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Total liabilities and stockholders' equity | | $ | 38,825,000 | | $ | 22,878,000 |
AMPIO PHARMACEUTICALS, INC. | |||||||
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Statements of Operations | |||||||
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| | Year Ended December 31, | | ||||
| | 2021 | | 2020 | | ||
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Operating expenses | | | | | | | |
Research and development | | $ | 11,900,000 | | $ | 9,172,000 | |
General and administrative | | | 8,671,000 | | | 6,662,000 | |
Total operating expenses Werbung Mehr Nachrichten zur Ampio Pharmaceuticals Aktie kostenlos abonnieren
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